Seeking Alpha/Van Eck/2-15-2023
“During our most recent quarterly webinar, we said that it feels as if investors need to be ‘scared into’ owning gold. What we meant is that most investors seem uninterested in gold until things get ugly. Well, things got really ugly last year, and central banks took note, so you may say that they, too, got scared into owning gold, accelerating their purchases to record levels. Could the attitude of central banks towards gold be paving the way for investors more broadly?”
USAGOLD note: The time to buy gold is when things are quiet, not when they get ugly. That is precisely what the central banks have been doing over the past couple of years, and are doing now.
Chart by USAGOLD [All rights reserved] • • • Data Source: World Gold Council